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What is the difference between a fixed second mortgage and one with a variable rate?
Wiki User
∙ 10y ago
The difference between a fixed second mortgage and one with a variable rate is that fixed second mortgage has a fixed rate and is commonly thought of as safer than a mortgage with a variable rate.
Wiki User
∙ 10y ago
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What is the difference between s355j2g3 and s355j2 plus n?
The difference between s355j2g3 and s355j2 + n is that in the second expression s355j2 is not multiplied by g3. Also in the second expression s355j2 is summed with n.
What is the difference between x equals 3 and x equals equals 3?
The second would suggest that x equals the string "=3".
What is the difference between non negative integer and positive integer?
The set of non-negative integers includes zero: [0,1,2,3,4,...]. These are also called whole numbers. The set of positive integers does not include zero: [1,2,3,4...]. These are also called counting/natural numbers.
How do you solve a simultaneous equation with 3 variables?
You cannot have a simultaneous equation: you must have 2 or more equations for there to be any simultaneity.The simplest method to solve them is to invert the matrix of coefficients but this requires you to know matrix algebra and the question suggests tha you are not that advanced.In that case, express any one of the variables in terms of the other two. Substitute the resulting expression in the other equation(s). Repeat until you have only one variable. Find its value and substitute in the previous equation. That will then enable you to find a second variable. And so on.
How long should a second date be from the first date?
It depends on your situation. A week or two is normal, but make sure you make phone calls/texts in between so the other person knows your are still interested!
What is the difference between refinancing and a second mortgage?
Refinancing is re-assessing the terms of your current mortgage. You are capable of refinancing any loan at any time whether it is a home, auto or personal loan. A second mortgage is a mortgage in addition to your primary note. If you obtain a second mortgage you will be liable to pay two monthly mortgage payments.
What is the difference between a first lien and second lien mortgage underwriting process?
A second lien mortgage occurs when a lender is willing to impose a lien on an asset that already carries a lien with another creditor. An example of a second lien mortgage is a second mortgage being taking out for property. If a person does not make payments to either lender, the first mortgage is settled before the second mortgage can be settled,
What is a stand alone second mortgage?
A stand alone second mortgage is a second loan taken out against your home when you already have 1 loan on it. The only difference is that the second loan was closed at a later time.
What is the Difference between a Junior Mortgage and a second mortgage?
The difference is really all in how the loans were originated. A junior mortgage refers to the lien placement on the property title. A second mortgage means a mortgagor has more than one loan on a property with the same lender. For example, If I purchase a home (assuming the title is clean and there are no liens on the title) and get the loan with ABC Bank then ABC Bank is considered the senior mortgage. If I obtain another loan with ABC Bank most commonly a HELOC or Home Equity Line of Credit then it is a second mortgage in second position. Let's say that after I obtained the second loan with ABC Bank, I chose to take out a smaller loan against the property with XYZ Bank. That loan will be considered a junior lien. The loans won't always fall that clean on the title however. You can have a junior lien between a senior lien and second mortgage. In the example above if the XYZ Bank loan was taken out before the second mortgage with ABC Bank then it would still be called a junior lien and the second mortgage with ABC Bank would be the second mortgage with ABC Bank but in third position. Hope that helps!
Can you file bankruptcy if your first mortgage is 170000 second mortgage is 300000 and the value of the house is about 300000?
Yes...those factors make no difference.
What is the difference between a algebraic equation and a monomial?
The first is an equation which may contain any powers of the variable - including fractional powers. The second is a single term.
Distinguish between senior mortgage and junior mortgage?
The only difference between a senior and a junior mortgages is the timing of when they are recorded. In rare circumstances, in the cases when a mortgage that was intended to be a second or junior mortgage is recorded first at the county recorders office, the mortgagee that was supposed to be recorded first has to get written permission from the other mortgage company to subordinate their position. Often times, this happen only when a monetary consideration is extended in return.
What is the difference between second mortgages and equity loans?
A second mortgage is a loan that involves a second lien on the property. (The first mortgage is the first lien.) Generally, a second mortgage is for a fixed dollar amount paid out at one time, in the same way as a first mortgage, and can be fixed-rate or adjustable-rate. In the early 1980s, a second type of second mortgage appeared that was referred to as an "equity line of credit," which came to be known as a HELOC. A HELOC allows the homeowner/borrower to draw out money as needed up to a certain amount. HELOCs are always adjustable-rate. In short, both a second and an equity loan are "second mortgages." The rate and manner of disbursement are different. A second mortgage, by virtue of the ability to get it as a fixed-rate loan, would be the better option.
Why might a homeowner take out a second mortgage?
A homeowner take out a second mortgage if they are struggling to pay off their first mortgage. You can read more at www.bostonapartments.com/mortgage/second-mortgage/second-mortgage.html -
What is the time difference between a nano second and a second?
A nano second is 1 billionth of a second. So there are 999,999,999 nano seconds difference between a second and a nanosecond
Difference between first and second shifting theorem?
Difference between first shifting and second shifting theorem
What are the dangers of a second mortgage foreclosure?
The biggest problem with second mortgage foreclosures is that you can lose your home even if you are still current on your first mortgage. The second mortgage, if defaulted on supersedes you first mortgage.
